Public Interest Accountability Committee (PIAC) has reported a 36 percent shortfall in the payments made by the Electricity Company of Ghana (ECG) under the Cash Waterfall Mechanism (CWM) for gas in 2023.

According to the 2023 report, ECG paid approximately GHS 250 million, falling short of the expected GHS 385 million. This leaves an outstanding debt of GHS 140 million for the year.

The CWM and Natural Gas Clearinghouse (NGCH) outline the procedures for allocating and distributing tariff revenues collected by ECG to various entities in the electricity value chain, including the Ghana National Gas Company Limited (GNGLC) and the Ghana National Petroleum Company (GNPC).

Payments are made directly to these stakeholders based on a percentage of the monthly invoice amounts.

Despite allocations being made in July and August, ECG failed to make the corresponding payments.

The report also highlighted that GNGLC's debt to GNPC has continued to increase, despite the implementation of the CWM to manage legacy debts.

PIAC warned that if this trend persists, it could jeopardize the operational viability of GNGLC.